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The Importance of a Well-Structured Project Management

The success of a project can depend on a variety of factors, all of which can be carefully considered by technical project management. Research has highlighted some of the reasons businesses are unsuccessful with their assignments and these include the length of the project and the amount of people involved.
Up to 25 per cent of projects are likely to under-perform, according to experts from the Said Business School, in Oxford, and the Segal Graduate School, in Vancouver.

In order to ensure successful outcomes for projects, experts have suggested the need for technical project managers who are experts in running well-structured assignments. Indeed, additional figures have revealed that over a quarter of projects running longer than a year failed and those with team members of more than 20 were also found to be less successful.

Budget was not found to be a factor for ensuring the success of an assignment if it was longer than 12 months and consisted of more than 20 staff.
The evidence suggests that effective management is key to accomplishing targets and further stresses the necessity for experienced consultants that can offer their technical project management skills. Utilising previous information is also an important part of bringing a project to a successful end and out-sourced technical project managers offer a wealth of past experience from which they can draw on and apply to a company.

Unfortunately just 12 per cent of staff report that they take past lessons learned from a previous IT project into their current assignment, according to statistics from Said Business School. In the study, businesses revealed that the prime reasons that information was not passed from project to project was due to a lack of time combined with loss of employees involved in particular assignments.

However, technical project managers can be introduced to a business in order to oversee these kinds of complications and bring a project to a successful end. An experienced manager can help reduce the failure rate of projects by pulling teams together and fulfilling well-documented reasons for the lack of success for projects. In addition, the majority of companies in an Australian National University survey admitted that discovering certain specifics of a current project such as costs and benefits were challenging activities which can all benefit from the business and technical knowledge of a project manager.